When you talk about your digital marketing strategy, do you allocate any budget to social media advertising? If not, your brand could be missing out on hundreds or even thousands of potential customers per day. The main power of social media advertising is the ability to select a targeted audience. You can base this on demographics, your own email list, or even users who interacted with your ads but did not convert and show them an ad in real-time as they are looking through their social media feeds.
Why Are Most Businesses Advertising on Social Media?
It’s clear that people are spending more and more time on social media. According to social media advertising statistics published by Hootsuite, 70 percent of people in North America use social media every day. They are also spending more time on social media than they do watching TV. That’s a big shift from even just a decade ago and presents a real opportunity to reach potential customers.
Many businesses currently use social media advertising to reach more customers, go viral with video campaigns, and re-market to users who showed signs of interest by interacting with a social media page or ad. Statistics published by Sprout Social confirm that 37 percent of consumers use their favorite social network for inspiration on what purchases to make! No wonder social media ad spend in the US is expected to reach $18.4 billion by the end of 2019, according to Spout Social.
With those numbers, it’s clear to see why businesses value the power of reaching a highly engaged audience, any time of day, right in their timeline feeds through social media advertising.
Benefits of Social Media Advertising
Whether you want to generate leads, drive purchases, or build brand awareness, social media advertising can do all three at once. More people will know your brand, like your content, and follow you on social media just by connecting with your ad. If you want to drive website traffic, you don’t even need a big budget to get started.
Here are some benefits of investing in social media advertising:
- Great visibility of your brand and products
- Ability to re-engage past customers, website visitors, or users who have interacted with your Facebook page or ads with re-engagement campaigns
- Intuitive audience targeting by interest, behavior, gender, age, and more, with over 35 million other data points through Facebook alone
- Reach local customers instantly by geo-targeting
- Mobile social media users see your ad right on their phones, and they can click and shop within Facebook and Instagram
- Schedule out promotions in advance with any size budget, and charge per impression or click
Some would argue the most significant benefit of social media advertising is creating more efficiency in ad spend. You can target users who showed interest or interacted with a previous social media ad, making it more likely that they’ll convert. For example, a user visits your webpage by clicking on an ad but does not complete the purchase. You have the ability to aggressively re-engage that user for a certain amount of days. You can make it so the ad shows up in their social media feed for that amount of time or until they convert.
Things to Consider When Advertising on Social Media
To put it simply, you have to know where your audience is. Chances are the majority of your customers are on Facebook’s network. With 3 billion users on Facebook and Instagram, you can instantly reach thousands of users by creating a Facebook Business Account.
Here are four questions to consider before putting together a social ad campaign:
- What are your social advertising goals? Maybe you want more visibility, or you want to sell products directly from the ad. Facebook, Instagram, Twitter, LinkedIn, Pinterest, and other social media networks let users shop directly through the social media platform. By defining your goals first, you can use them as a foundation for all your plans moving forward.
- Who do you want to target? You can create hundreds of custom audiences through Facebook’s Ad Manager. So if you know your demographics, it’s easy to enter zip codes, DMAs, gender, age, marital status, interests, behaviors, and even more granular targeting factors. In addition, you must decide which network offers the most reach. Facebook’s audience is pretty broad, but perhaps you want to cater to beauty and fashion on Pinterest or Instagram. You could also have a B2B campaign on Twitter or LinkedIn.
- How much will you spend? Depending on the advertising platform, you can set budgets by day or for the entire campaign. You can advertise for as little as $5 in some markets, but you can pick and choose days of the week you want to advertise so you can plan your budget accordingly. Social networks typically charge advertisers by impression, click, or conversion.
- What marketing materials and advertising graphics will you use? You’ll need images, videos, and marketing copy to create sponsored social media posts.
Increase Brand Authority and Bring in New Customers
In addition to your traditional social media content, advertising adds more visibility and drives users to make purchases. You don’t even have to use hard sales techniques to reach these audiences either. In fact, social media users engage with advertisers just like they do with other users, and it’s up to brands to respond in order to promote a sale or more engagement.
With social media advertising, small and large businesses access a ton of targeting tools that open up new revenue or lead generation funnels almost instantly. In today’s digital age, it’s even better than word-of-mouth advertising because you can tailor your ads to specific groups and make it stand out in the crowd with focused messaging.
To Sum It Up
Investing in social media advertising gives businesses powerful niche targeting tools and the ability to engage active users, generate leads, drive traffic, and build brand awareness, all with a relatively small budget.
If you’d like to learn more about social media advertising, the Levy Online team is here to help. With years of experience and many successful digital marketing campaigns under our belt, we can help you find your audience and achieve your sales goals with strong social media strategies. We also have a professional in-house design team to really make your ads pop. Contact us today!